According to the Daily Planet, EMC Labs, a crypto fund management company, published a long article on the X platform stating that the crypto asset market has entered the warm-up stage of the "bull market". BTC prices began to be dominated by funds entering the ETF channel, and on-site industrial capital began to shift to ETH, and ETH's strength within 90 days has exceeded BTC. EMC Labs has monitored that ETH has continued to flow out of centralized exchanges and entered staking, Layer2 and lending platforms over the past year. Since 2024, the fundamentals of Ethereum users and value capture have continued to improve. Ultimately, ETH's "flywheel effect" (staking, use, and destruction) will drive the ETH/BTC trading pair to reverse. Following the ICO craze in 2018 and the application verification in 2021, the ETH/BTC trading pair is entering a new upward cycle.